The board of Kolte-Patil Developers has promoted Gopal Sarda as Group Chief Executive Officer with immediate effect, the company said in an exchange filing on Friday. Prior to this, Sarda was CEO - Mumbai and Group President. Shares of Kolte-Patil ended up 4.4 per cent at ₹107.40 on the NSE.
Bharat Forge has disinvested its entire stake in Kalyani Polytechnic Pvt Ltd to Kalyani Education Foundation for ₹3.50 lakh. The buyer is not part of the promoter group and the deal is not a related-party transaction. Though Kalyani Polytechnic has not commenced activities, the shares have been disposed of at book value, Bharat Forge said in a statement to the exchanges. Shares of Bharat Forge slipped about 2 per cent at ₹948.8 on the NSE.
IL&FS Engineering and Construction Co on Friday said its board will meet on February 10 to consider raising additional funds by way of issuance of equity shares on preferential basis. The window for trading in the company’s shares will remain closed from Monday to Sunday. Shares of the company ended up 1.6 per cent at ₹52.70 on the NSE.